medium of exchange

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medium of exchange

n. pl. media of exchange or mediums of exchange
Something, such as a precious metal, that is commonly used in a specific area or among a certain group of people as money.

medium of exchange

n
(Banking & Finance) anything acceptable as a measure of value and a standard of exchange for goods and services in a particular country, region, etc

me′dium of exchange′


n.
something generally accepted as representing a standard of value and exchangeable for goods or services.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.medium of exchange - anything that is generally accepted as a standard of value and a measure of wealth in a particular country or regionmedium of exchange - anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
criterion, standard, touchstone, measure - a basis for comparison; a reference point against which other things can be evaluated; "the schools comply with federal standards"; "they set the measure for all subsequent work"
legal tender, tender, stamp - something that can be used as an official medium of payment
money - the most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us"
currency - the metal or paper medium of exchange that is presently used
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